Quantitative Risk Assessment Studies

Understanding risk is vital for sound and cost-effective decision-making and for establishing a technical risk picture for the entire asset lifecycle .
A Quantitative Risk Assessment (QRA) is a valuable tool for determining the risk of the use, handling, transport and storage of dangerous substances.

What is Quantitative Risk Assessment (QRA) ?

QRA is a structured approach to identifying and understanding the associated with hazardous activities such as the operation of a plant. In Quantitative Risk Assessment (QRA) a numerical estimate is made of the probability that a defined harm will result from the occurrence of a particular event. The study results shall also indicate the effects of accident scenario on the facilities outside the installation.

Why Conduct QRA?

Regulatory requirement? Often stipulated as the way for facilities to show regulators what risks are
Considered good practice by some
If something is new, complicated or unusual
Where there are multiple sites with overlapping risk profiles
To provide information to local stakeholders about offsite risks
To identify likely scenarios for emergency planning

What you Get?

Analysis of potential accident scenarios, including consequences and initiating &controlling factors
Estimated fatalities (individual, group and societal risk)
Predicted economic losses
Predicted environmental impacts
Risk to specific main safety functions
Input to operational restrictions and design requirements
Identification and assessment of preventative and mitigation measures
Identification of the need for and function/requirements of safety barriers
Effects of uncertainties and assumptions.